3510 Applin Way · Melbourne, FL 32901

$115,000

3 bd · 2.0 ba · 1,134 sqft · Other public records · 77 Days on market

Built 1971 6,534 sqft lot

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention Investors. Great opportunity for a fix and flip or fix and rent. This property is damaged by fire and does need work. Structure appears sound and ready to rehab.

Key facts

• 6,534 sq ft lot
• Built 1971
• Listed 77 days

Property features AI

Finance

• Other: Zoning: R1A; Lot dimensions approximately 57.6 x 100; Lot size about 0.15 acres (approximately 607 sq meters); Total acreage less than 1/4 acre
• HOA & community: No association

Exterior

• Parking: Road access via asphalt and concrete surfaces
• Utilities: Public water; Public sewer; Other utilities
• Home design: Single-family residence; Residential property; Fixer condition; One-story; Faces east; Entry level: One
• Construction: Block, brick and other construction materials; Other roof; Slab foundation; Building area approximately 1,364 square feet; Living area approximately 1,166 square feet
• Exterior features: Other exterior features

Interior

• Kitchen: No appliances listed
• Bedrooms: 4 bedrooms
• Flooring: Concrete
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No notable interior features listed; Concrete flooring
• Laundry & utility: Laundry located inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $115k.

Deal economics

• At list price, monthly cash flow is $700 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Brevard (suburban): math 53% / reading 57% proficiency, ranked #19 of 73 in FL (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.7%/yr); 202 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 4,602 units permitted in Brevard County in 2024 (702 in 5+ unit buildings).
• This rent runs 40% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Brevard County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 1.7% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $80k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.58% ✓
• Cap rate: 13.59%
• Cash-on-cash: 26.07%
• DSCR: 2.16
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.7% rent growth · sell at horizon

5-year hold

• IRR: 18.4%
• Equity multiple: 1.73×
• Total profit: $23,571
• Equity at exit: $17,147

10-year hold

• IRR: 25.9%
• Equity multiple: 3.13×
• Total profit: $68,494
• Equity at exit: $9,943

Cash invested: $32,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32901

• Home prices YoY: -31.0%
• Rents YoY: 1.7%
• Active inventory: 202
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,815 high
• Mortgage (P&I): −$603
• Tax from tax record: −$83 /mo · $996/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $700

Break-even live

Break-even rent $929

Max offer price $115,000

Occupancy floor 56%

Sensitivity live

Price	-10% $765	-5% $732	+0% $700	+5% $667	+10% $635
Rent	-10% $556	-5% $628	+0% $700	+5% $771	+10% $843
Rate	-1.0pp $758	-0.5pp $729	base $700	+0.5pp $670	+1.0pp $640

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3101 Wiley Ave Melbourne, FL	3.0	2.0	1185	$1,499	$1.26	24d	1	0.45mi
343 Talbot St Melbourne, FL	3.0	2.0	1355	$1,699	$1.25	24d	1	0.49mi
2331 Commerce Park Dr NE Palm Bay, FL	1.0–3.0	1.0–2.0	1094	$2,024	$1.85	14d	33	0.52mi
3104 Swift St Melbourne, FL	3.0	1.0	1379	$1,750	$1.27	24d	1	0.61mi
2700 Carlson Cir Melbourne, FL	1.0–2.0	1.0–2.0	879	$1,242	$1.41	24d	1	0.67mi
248 E University Blvd Melbourne, FL	1.0–2.0	1.0	720	$1,449	$2.01	14d	5	0.67mi
2154 Henry St NE Palm Bay, FL	4.0	1.5	1020	$1,850	$1.81	24d	1	0.67mi
2361 Commerce Park Dr NE Palm Bay, FL	1.0–3.0	1.0–2.0	1106	$2,255	$2.04	14d	47	0.75mi
3151 S Babcock St Melbourne, FL	1.0–2.0	1.0–2.0	807	$1,595	$1.98	14d	10	0.77mi
2399 Coconut Palm Dr NE Palm Bay, FL	2.0	2.0	968	$1,795	$1.85	24d	1	0.79mi
100 E University Blvd Melbourne, FL	1.0–3.0	1.0–1.5	756	$1,675	$2.21	14d	16	0.85mi
1894 Coco Plum St NE Palm Bay, FL	2.0	2.0	1188	$1,200	$1.01	19d	1	0.88mi
342 Crown Blvd Melbourne, FL	3.0	2.0	1224	$1,900	$1.55	24d	1	0.91mi
1924 Seagrape St NE Palm Bay, FL	2.0	2.0	1206	$1,575	$1.31	14d	1	0.91mi
520 Benton Dr Melbourne, FL	3.0	2.0	1281	$1,850	$1.44	24d	1	0.95mi
3595 Misty Oak Dr Melbourne, FL	1.0–2.0	1.0–2.0	747	$1,550	$2.07	14d	6	0.95mi
2155 Robert J Conlan Blvd NE Palm Bay, FL	1.0–3.0	1.0–2.0	1093	$2,022	$1.85	14d	20	0.96mi
3522 D'Avinci Way Melbourne, FL	2.0	2.0	875	$1,625	$1.86	24d	1	1.00mi
2643B Kingswood Dr NE Palm Bay, FL	3.0	1.0	1000	$1,650	$1.65	19d	1	1.01mi
3502 D'Avinci Way Melbourne, FL	2.0–3.0	2.0	998	$1,940	$1.94	14d	15	1.06mi
300 Rutgers Ave Melbourne, FL	3.0	1.0	912	$1,850	$2.03	24d	1	1.15mi
309 Rutgers Ave Melbourne, FL	3.0	1.0	912	$1,700	$1.86	21d	1	1.20mi
2900 Vassar St Melbourne, FL	3.0	2.0	1316	$1,925	$1.46	14d	1	1.23mi
4315 S Babcock St Melbourne, FL	1.0–3.0	1.0–2.0	996	$2,026	$2.03	14d	15	1.24mi
21 Rosevere Way Melbourne, FL	3.0	2.0	1467	$1,900	$1.30	14d	1	1.25mi
310 Fitness Cir Melbourne, FL	1.0–3.0	1.0–2.0	843	$1,750	$2.08	14d	12	1.28mi
1880 Mogra Cir NE Palm Bay, FL	2.0–3.0	2.0	1090	$1,899	$1.74	14d	6	1.28mi
300 Amherst Ave Melbourne, FL	3.0	2.0	1353	$2,050	$1.52	14d	1	1.30mi
2907 Rollins St Melbourne, FL	4.0	2.0	1300	$850	$0.65	14d	1	1.33mi
1700 Woodlake Dr NE Palm Bay, FL	1.0–2.0	1.0–2.0	875	$1,500	$1.71	24d	12	1.38mi
4001 Pinewood Dr NE Palm Bay, FL	2.0	2.0	1036	$1,269	$1.22	24d	5	1.38mi
635 E New Haven Ave Melbourne, FL	1.0–2.0	1.0–2.0	899	$2,700	$3.00	24d	1	1.41mi
1630 Bottlebrush Dr Palm Bay, FL	2.0	1.0	600	$1,495	$2.49	24d	1	1.41mi
3016 Pinewood Dr NE Palm Bay, FL	1.0–2.0	1.0	800	$1,103	$1.38	24d	1	1.44mi
3711 Vista Oaks Cir NE Palm Bay, FL	2.0	1.5	1236	$1,500	$1.21	21d	1	1.45mi

Listing history 20 events

1. 2026-06-18
   days on market $115,000 Active 77 DOM
2. 2026-06-17
   days on market $115,000 Active 76 DOM
3. 2026-06-16
   days on market $115,000 Active 75 DOM
4. 2026-06-15
   days on market $115,000 Active 74 DOM
5. 2026-06-14
   days on market $115,000 Active 72 DOM
6. 2026-06-10
   days on market $115,000 Active 69 DOM
7. 2026-06-08
   days on market $115,000 Active 67 DOM
8. 2026-06-07
   days on market $115,000 Active 66 DOM
9. 2026-06-05
   days on market $115,000 Active 63 DOM
10. 2026-06-03
    days on market $115,000 Active 62 DOM
11. 2026-06-02
    days on market $115,000 Active 61 DOM
12. 2026-06-01
    days on market $115,000 Active 60 DOM
13. 2026-05-31
    days on market $115,000 Active 59 DOM
14. 2026-05-31
    days on market $115,000 Active 58 DOM
15. 2026-04-02
    listed $115,000 Active
16. 2023-05-25
    historical 171-char remark

    Show marketing remark (171 chars)

    Attention Investors. Great opportunity for a fix and flip or fix and rent. This property is damaged by fire and does need work. Structure appears sound and ready to rehab.

17. 2023-01-17
    soldstatus $80,500
18. 2023-01-13
    listed $110,000 Active 171-char remark

    Show marketing remark (171 chars)

    Attention Investors. Great opportunity for a fix and flip or fix and rent. This property is damaged by fire and does need work. Structure appears sound and ready to rehab.

19. 1986-05-01
    soldstatus $38,000
20. 1980-02-01
    soldstatus $26,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $996 · $83/mo
• Projected year-2 tax: $996 · $83/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,776
• − Mortgage interest: −$6,442
• − Property taxes: −$996
• − Insurance: −$575
• − Repairs & maintenance: −$1,742
• − Management: −$1,742
• − Depreciation: −$3,345
• Taxable income: $6,934
• Est. tax owed @ 24.0%: −$1,664
• After-tax cash flow: $6,731/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Brevard
• NCES district ID: 1200150
• Math proficiency: 53% ▼ -9.00%
• Reading proficiency: 57% ▼ -4.00%
• Median HH income: $49,426
• Composite: 46.86/100
• National rank: #2370
• State rank: #19 of 73 in FL

Livability — Melbourne

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Melbourne, FL
• County: Brevard County · 602,871 people
• City population: 178,420
• Metro: Palm Bay-Melbourne-Titusville, FL
• Population (ZIP): 28,923
• Household income: $54,651
• Rent vs Own: 50.6% rent · 49.4% own
• Severe rent burden: 2018.0

Population outlook (Brevard County) Hauer SSP2

• Today (2025): 623,254 people
• By 2030: 648,420 · +4.0%
• By 2040: 690,009 · +10.7%
• By 2050: 715,669 · +14.8%
• By 2075: 775,744 · +24.5%
• By 2100: 776,687 · +24.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 62% Black 18% Hispanic / Latino 11% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 1%
• Foreign-born: 14% · Canada, Vietnam, Jamaica
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 2% Vietnamese 2%

Political lean MEDSL · Brevard

• 2024 margin: Strong R (+20.8) · D 39.1% · R 59.9% · Other 1.0%
• 2008→2024 swing: -10.4pp toward R · 2008: -10.4pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+16.4 2016: R+19.8 2012: R+12.7 2008: R+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -145.13%
• Current HPI: 322.934
• Rent YoY: ▲ 1.70%
• Metro: Palm Bay-Melbourne-Titusville, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+342.3% since first listed

6 events — show timeline

• 2026-04-02 Listed $115,000 Stellar MLS as Distributed by MLS Grid
• 2023-05-25 Listing Removed — SCMLS
• 2023-01-17 Sold (Public Records) $80,500 Public Records
• 2023-01-13 Listed $110,000 SCMLS
• 1986-05-01 Sold (Public Records) $38,000 Public Records
• 1980-02-01 Sold (Public Records) $26,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $996 · -23.4% YoY. Source: county tax records.